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Using bank loans as collateral in Europe : the role of liquidity and funding purposes
Koulischer, François; Van Roy, Patrick - 2017
-term liquidity insurance purposes and for longer-term funding purposes for issuing covered bonds or asset-backed securities. We then … explore the determinants of the choice of using bank loans for short-term liquidity insurance purposes or long-term funding …
Persistent link: https://www.econbiz.de/10011635012
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Flights to safety
Baele, Lieven; Bekaert, Geert; Inghelbrecht, Koen; Wei, Min - 2012
Despite a large and growing theoretical literature on flights to safety, there does not appear to exist an empirical characterization of flight-to-safety (FTS) episodes. Using only data on bond and stock returns, we identify and characterize flight to safety episodes for 23 countries. On...
Persistent link: https://www.econbiz.de/10011590578
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Investment, R&D and liquidity constraints : a corporate governance approach to the Belgian evidence
Van Cayseele, Patrick - 2002
In this contribution, we present a novel instrument to control for investment opportunities in studying the investment-cash-flow sensitivity. More in particular we introduce the book value of R&D. We argue this instrument has advantages over other theories of investment, especially when...
Persistent link: https://www.econbiz.de/10011623279
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Structural modelling of investment and financial constraints : where do we stand?
Chatelain, Jean-Bernard - 2002
ground much more the interpretation of the sensitivity of investment to liquidity variables such as cash flow as a measure of …
Persistent link: https://www.econbiz.de/10011623445
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Capital structure, firm liquidity and growth
Anderson, Ronald W. - 2002
to high liquidity to slow growth. In light of this we discuss the possible implications of the development of stock …
Persistent link: https://www.econbiz.de/10011623449
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Liquidity and financial market stability
O'Hara, Maureen - 2004
Liquidity occupies a central importance for many areas of finance. But there are very disparate views of liquidity, and … correspondingly many different policy implications attached to these views. In this paper, I consider the many faces of liquidity and … their implications for financial market stability. In particular, I focus on the traditional economics view of liquidity as …
Persistent link: https://www.econbiz.de/10011625722
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Regulating financial conglomerates
Freixas, Xavier; Lóránth, Gyöngyi; Morrison, Alan; … - 2004
We analyse a model of financial intermediation in which intermediaries are subject to moral hazard and they do not invest socially optimally, because they ignore the systemic costs of failure and, in the case of banks, because they fail to account for risks which are assumed by the deposit...
Persistent link: https://www.econbiz.de/10011626217
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The relationship between slack resources and firms' exporting behavior
Paeleman, Ine; Fuss, Catherine; Vanacker, Tom - 2013
We use a unique longitudinal dataset that tracks the exporting behavior of Belgian manufacturing firms between 1997 and 2009. We ask how slack resources, including financial and human resource slack, influence firms’ exporting behavior. Our findings suggest that both types of slack resources...
Persistent link: https://www.econbiz.de/10011590293